Scotiabank Raises AT&T (NYSE:T) Price Target to $26.00

AT&T (NYSE:T) had its price objective upped by Scotiabank from $24.00 to $26.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a sector outperform rating on the technology company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company decreased their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Evercore ISI raised their target price on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Sanford C. Bernstein increased their price objective on shares of AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Royal Bank of Canada increased their price objective on shares of AT&T from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.11.

AT&T Price Performance

T opened at $24.04 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The stock has a market capitalization of $172.46 billion, a P/E ratio of 19.54, a P/E/G ratio of 3.50 and a beta of 0.59. The company’s 50-day simple moving average is $22.89 and its two-hundred day simple moving average is $21.57. AT&T has a 52-week low of $15.94 and a 52-week high of $24.98.

AT&T (NYSE:T) last released its earnings results on Monday, January 27th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. As a group, analysts predict that AT&T will post 2.21 EPS for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.62%. The ex-dividend date is Friday, January 10th. AT&T’s payout ratio is 74.50%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Csenge Advisory Group boosted its stake in AT&T by 22.4% during the fourth quarter. Csenge Advisory Group now owns 144,905 shares of the technology company’s stock worth $3,299,000 after buying an additional 26,540 shares during the period. James Investment Research Inc. boosted its stake in AT&T by 1.7% during the fourth quarter. James Investment Research Inc. now owns 58,271 shares of the technology company’s stock worth $1,327,000 after buying an additional 981 shares during the period. Game Plan Financial Advisors LLC boosted its stake in AT&T by 220.7% during the fourth quarter. Game Plan Financial Advisors LLC now owns 61,105 shares of the technology company’s stock worth $1,387,000 after buying an additional 42,050 shares during the period. Hourglass Capital LLC boosted its stake in AT&T by 4.9% during the fourth quarter. Hourglass Capital LLC now owns 191,960 shares of the technology company’s stock worth $4,371,000 after buying an additional 8,950 shares during the period. Finally, Tcfg Wealth Management LLC boosted its stake in AT&T by 3.7% during the fourth quarter. Tcfg Wealth Management LLC now owns 16,158 shares of the technology company’s stock worth $368,000 after buying an additional 569 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.